Passes 7,000 Homes in W.Va., Md.
Mike Farrell -- 10/6/2010 5:16:36 PM
Shenandoah Telecommunications (ShenTel) the Edinburg, Va.-based telephone and cable company, said it has signed an asset purchase agreement to purchase small cable systems in West Virginia and Maryland from Suddenlink Communications.
Terms of the deal were not disclosed. The systems are located in Salem, W. Va., and Oakland, Md, and pass a total of 7,000 homes. The deal is expected to close within 90 to 120 days. NewYork-based cable and telecommunications investment banker Waller Capital Corp. acted as ShenTel's exclusive adviser.
This is the second cable acquisition ShenTel has made in the past two months. In August it completed the $148 million acquisition of Jet Broadband, with about 66,000 revenue generating units (a combination of voice, video and data subscribers) in southern Virginia and southern West Virginia.
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